Insurance Company Description: Optus insurance is one of a kind insurance offered to customers insuring their mobile phones. There is a significant risk of loss associated in carrying your mobile phones because you carry it around anywhere and everywhere and since it is just a tiny object, you can lose it anywhere in your busy schedule. Not only is there risk of getting your mobile lost, but many a times it is also purposefully stolen or even damaged. There are several inconveniences associated with the loss of your mobile phone such as investing in a new mobile phone at very high retail prices and also cancellation charges regarding your already existing mobile services. Also, you will lose your number and all your contacts as well which is a great thing in today’s times. In case your mobile has been stolen, you are liable for the payment of all the unauthorized calls which has been made on your phone which is an added expense to you. Thus, this is when the concept of Optus Mobile Insurance comes into your picture.
Covers: Optus is known for offering a very unique kind of insurance which is the mobile insurance.
Pros: Optus insurance helps you to overcome all the challenges regarding owning a mobile and offers the maximum protection to your mobile phone. There are two types of insurance plans that have been offered by Optus which are the Standard Insurance Plan and the Smart Insurance Plan. Under the standard plan, theft, accidental loss or damage are covered with the limit of liability up to $800 and the cover for unauthorized calls being $300. The Smart insurance plan is an advanced one and includes claims such as thefts, accidental loss or damage and electronic failures or breakdowns. The limit of liability on this plan is up to $2000 with an unauthorized call limit of $600. Customers are very much satisfied with the insurance excesses and extra bonuses that are offered by this insurance firm. Also, claims can be easily made online which saves a lot of time for the customers.
Cons: Some of the customers are not satisfied with the cooling off period offered by Optus which is just 19 days. Also, there are certain exceptions to the excesses which are not liked by the customers. Claims require lot of investigation and take time to process.
Overall: In all, the idea of mobile insurance is definitely neat and refreshing and offers a great way to safeguard our mobiles. It is important to read thoroughly the Product Disclosure Statement and the Terms and Conditions before you sign the document.